Madison — Natural Resources Secretary Cathy Stepp on Tuesday defended Gov. Scott Walker's plan to turn the Natural Resources Board into an advisory panel, instead of one that makes policy, even as she acknowledged she had not been consulted on the proposal in advance.

"I feel that it's extra layers," Stepp said of the board in a briefing to the Legislature's Joint Finance Committee. "I think it's duplicative."(58)

A bank regulator said Thursday it has lifted its special scrutiny of Johnson Bank, which has returned to profitability and is recapitalized.

Racine's Johnson Bank, the second largest bank based in Wisconsin, had been operating under a written agreement with the Federal Reserve since May of 2011 that required it to take various steps intended to strengthen the bank. The bank had suffered losses as loans defaulted during the economic downturn and its capital was diminished. | Nov. 29, 2012»Read Full Article(5)

Nordstrom Inc. will open its first full-line Wisconsin department store at Wauwatosa's Mayfair mall in fall 2015.

The Seattle-based company announced Thursday plans to open a 140,000-square-foot, three-level store. It will be on the mall's east side, between Boston Store and Mayfair's six-story attached office building. | Nov. 29, 2012»Read Full Blog Post(111)

Robert W. Baird & Co. has been ordered to pay $700,000 to Morgan Stanley Smith Barney to settle allegations that it unfairly raided the New York investment firm's Lynchburg, Va., office.

Morgan Stanley made its allegations about Baird's recruiting practices in March 2010. The firm also sought return of certain documents and repayment of the balance of a 2009 loan from Baird broker Paul T. McWane, who was previously employed by Morgan Stanley. | Nov. 29, 2012»Read Full Article(2)

Billionaire investor Carl Icahn says he will drop his fight to gain control of Oshkosh Corp. if he doesn't get adequate shareholder support before his offer expires Dec. 3.

Thursday, Icahn said that if stockholders representing 25% of the shares accepted his bid - which values the company at $2.98 billion or $32.50 per share - he would proceed with another attempt to have his slate of directors elected to the Oshkosh board. | Nov. 29, 2012»Read Full Article(10)

A Silicon Valley battery developer and Johnson Controls Inc. will team up to develop a water-based lithium-sulfur battery, the U.S. Energy Department announced.

PolyPlus Battery Co. of Berkeley, Calif., and Johnson Controls were awarded $4.5 million from the Advanced Research Projects-Energy, which announced funding for projects in 24 states this week. | Nov. 29, 2012»Read Full Blog Post(7)

Sales at stores open at least a year dropped 5.6% for Kohl's Corp. in the four-week period ended Nov. 24, the company said Thursday.

"Though November sales were lower than expectations, we are encouraged by improved sales over the Thanksgiving week," said Kevin Mansell, chairman, president and chief executive of Menomonee Falls-based Kohl's. | Nov. 29, 2012»Read Full Article(1)

The parent company of the Boston Store said Thursday that sales at stores open at least a year decreased 0.1% in the four weeks ended Nov. 24.

Brendan Hoffman, president and chief executive of The Bon-Ton Stores Inc., said same-store sales gained momentum in the second half of November after experiencing a negative impact from Hurricane Sandy earlier in the month. | Nov. 29, 2012»Read Full Article

A four-story warehouse just north of downtown Milwaukee's Park East strip would be redeveloped into other uses, including housing, under a new proposal.

Developer Todd Hutchison is requesting a zoning change for the building, at the northeast corner of W. McKinley Ave. and N. 4th St., to allow additional uses, such as residential. That's according to the proposal filed Wednesday with the Common Council. | Nov. 29, 2012»Read Full Blog Post(8)